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The latest update is out from Tenet Healthcare (THC).
On August 5, 2024, the Company announced the sale of a 70% stake in five Alabama hospitals for $910 million cash, anticipating a $790 million after-tax proceeds and a pre-tax book gain of $375 million. The hospitals involved, which generated a pre-tax income of $12 million in the past year, will continue to receive revenue cycle management services from Conifer Health Solutions under a new ten-year contract. The deal, not reliant on financing, includes typical provisions and is contingent on regulatory approvals, with completion expected in fall 2024.
For an in-depth examination of THC stock, go to TipRanks’ Stock Analysis page.
